The Board of the National Bank of Kyrgyzstan has decided to keep its key rate at 13 percent, official representative of the National Bank of the Republic Aida Karabaeva said Tuesday.
The inflationary background in Kyrgyzstan remains relatively moderate and reflects the main trends of recent months. Since the beginning of 2023, consumer prices have increased by 2.8 percent, in annual terms, and inflation was 15.9 percent, said Karabaeva, adding that economic activity in Kyrgyzstan has picked up, with domestic demand also recovering.
“The continuing high uncertainty in the external environment remains a predetermining factor in the development of the economic situation in Kyrgyzstan, including inflation dynamics. Under these conditions, the ongoing monetary policy of the National Bank is still aimed at reducing inflation in the country to the target in the medium term,” said Karabaeva.
“Considering the conditions for the development of the external and internal economic environment, the National Bank decided to keep the discount rate at the level of 13 percent,” said Karabaeva.
